Richmond Hill Resources (RHR ) has returned multiple gold intercepts from the latest round of drilling at the Tabor prospect, part of the company’s wider Martello gold project in Canada.
Five of seven drill holes completed at Tabor were designed as step-out holes testing extensions to the historically defined high-grade shoot.
Only TB-26-001 and TB-26-002 directly targeted the previously recognised high-grade core of the Tabor system.
Among the highlights were 0.7 metres at 3.15 grams per tonne gold, 0.75 metres at 2.15 grams per tonne, and 1.3 metres at 1.71 grams.
Both core-zone holes intersected the target area and returned multiple gold-bearing intervals associated with stacked quartz vein systems.
Visible gold was observed in drill core from TB-26-002.
The company has also been undertaking significant development work across the wider Martello project, ranking seven priority exploration targets, with Sakoose emerging as the most prospective.
The company’s interpretation suggests that the Sakoose area may contain multiple subparallel structures rather than a single mineralised vein. Accordingly, five subordinate prospecting targets surrounding the historic mine workings have now been identified.
Sakoose historically produced gold at grades of approximately 15 grams per tonne gold from a limited portion of a structure interpreted to extend for more than 1.4 kilometres. Multiple gold-bearing veins and structures have been documented across the Sakoose area and the system remains open along strike and down plunge.
An exploration permit application covering Sakoose and other priority targets has now been submitted to Ontario Ministry of Energy and Mines.
Property-wide drone magnetic survey and 3D magnetic inversion modelling has also been completed across Martello.
The integration of drilling, historical exploration data and district-scale geophysics has resulted in an improved understanding of the geological relationships between the principal gold occurrences across the Martello project.
"This is an important step forward for Richmond Hill at Martello,” said Hamish Harris, executive director of Richmond Hill.
“In a single phase of work, we have completed our maiden drilling and, together with the recent 3D magnetic interpretation, brought together more than a century of exploration into a coherent geological framework. Much of the historical exploration across Martello was undertaken by different operators on fragmented land positions and focused on individual occurrences rather than the broader geological system. The rocks have not changed. The gold occurrences have not changed. What has changed is our ability to evaluate them as structurally related, rather than isolated, occurrences. The Tabor drilling programme confirmed mineralisation within the previously recognised core of the system and provided important geological information from a series of step-out holes. However, in our view, the most significant outcome of this phase of work is the enhanced understanding of Martello and, in particular, the identification of Sakoose as the company's highest-priority target.”
View from Vox
Richmond Hill shares ticked up by nearly 4% on the news, a nice enough move that shows the market is paying attention, and perhaps just a prelude of things to come. The prospectivity of Martello is clearly very significant, and the emergence of Sakoose as a priority target shows the significant progress the company is making on zeroing in on exactly where the biggest opportunity lies. The historic grades are highly encouraging. If Richmond Hill can follow up on this work with more attractive results, it will be creating real value for shareholders.